The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1887-04-13
THE CHICAGO MARKETS.
Wheat and Corn Quiet-ProvisiOns Rule
Dali and Tame.

Special TO the Sentinel.
CHICAGO. April s.-The wheat deal on Change
is quiet, but the market seems to have firm
undertone. The fact that the week has been
broken by two holidays has had tendency &c
keep the large operators from branching out
and 10 induce the scalpers to steer their barks
very near shore. The plans and probable pro-
gramme of the cliques is still the chief topic OF
conversation. The Standard Oil crowd at Gin
cinnati are now believed to be the heaviest
holders here, with California parties a close
second. Certain industrious "shorts" have
lately been working up an investigation by
which they claim to have traced about %, 900
bushels Of May wheat contracts to the four
clique houses-Irwin, Green d Co., Kershaw <
Co., Rosenieldt & Co, and Field, Lindley K Co.
To this the bears add the claim that the wind is
now pretty well knocked out of the deal and
that the bulk OF the wheat sold for May delivery
is now in store here or is held within delivera-
bic distance. The clique this week have shown
a willingness to sell around SS1<9SSsze for May,
but have not disposed OF much grain. On the
other hand they have been active buyers of
June and July, which accounts for the relative
frmness of those options.
The weather is cutting more and more i'm
portant figure in the market, and the "crop-
killer is once more abroad. Unfavorable re-
ports are so general and are received from so
many different sources, that the most con.
sentative men are beginning to put some faith
in them. Dispatches from all portions OF the
winter wheat belt tell of excessively dry weather.
and California advices say that drouth has
ruined fully half the crop on the Pacific slope.
Sellers try to ridicule this kind OF talk but the
signal service map indicates that the whole
country is as dry as a bone.
Clearances keep up WELL and with the amount
OF wheat On ocean passage constantly decreas-
ing, Notwithstanding heavy shipments fromiAt-
lantic ports. it is felt that American exporters
can afford to be stiff and uncompromising. The
necessities OF the old world were never
greater than now, and private ca
bles say that the harvest in the United
Kingdom is likely to be several weeks late.
Jones, Mccormick x Co. and Milmine Il Bod
man, who are supposed to representa- heavy
Wall street short interest, have covered pretty
freely, and il would not take a great deal to
cause a stampede of the small bears now.
Hence, many traders are working on the theory
that the manipulstors propose to give the mar
ket sharp and sudden twist, squeeze all the
juice possible out of the lemon, and then ''Iet
go all holds" before delivery day comes around.
There is still some talk of a probable corner In
storage room here. So far commercial writers
seem to be suffering the most anxiety about
this, but it is by no means an impossible contin-
gency.
Corn is quiet, but prices are strong in spite
OF the large receipts. Still, stocks here are enor.
nous, and May still sells at premium of sc
over April or cash corn. The worst feature Of
the market is the fact that the cash demand is
confined to the professional grain carriers who
take the current receipts and Immediately re-
sell them for May, thus making interest Of
about II per cent. on their money.
Provisions rule dull ana tame. Speculation
is lileless, and the movement of cash product
inactive.